The investment comes at a time when the security and fraud protection industry is expanding. In September, nine out of ten (87 per cent) cybersecurity experts said they believe mobile payment data breaches will grow in the next 12 months.

Furthermore, Kount’s own 2015 Mobile Payments & Fraud Survey found that many organizations are not keeping pace with mobile fraud growth, as over half (60 per cent) of respondents are uncertain if mobile fraud is growing at a faster, slower or equal pace as their overall mobile transaction volume.

“The payments fraud and security industry is one that we have been actively targeting for a while, and we identified Kount as the obvious industry leader,” said Jason Glass, Managing Director at CVC Growth Partners.

"Big players and traditional acquirers are struggling to get out of the commodity corner, to the point of providing agile services that allow them to be omni-channel and data-centric. That is what we provide, an opportunity to fulfill those goals."

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